Bank of Montreal Can Cuts Position in Carvana Co. (NYSE:CVNA)

by · The Markets Daily

Bank of Montreal Can lowered its position in shares of Carvana Co. (NYSE:CVNA – Free Report) by 15.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 202,304 shares of the company’s stock after selling 37,032 shares during the quarter. Bank of Montreal Can owned about 0.10% of Carvana worth $41,141,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVNA. Vanguard Group Inc. lifted its stake in shares of Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP lifted its position in Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after acquiring an additional 75,250 shares during the period. Norges Bank acquired a new stake in Carvana in the fourth quarter valued at approximately $179,364,000. Finally, Lord Abbett & CO. LLC raised its stake in shares of Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. The trade was a 28.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 330,810 shares of company stock worth $69,243,820. Insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVNA. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Evercore ISI dropped their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Wedbush set a $250.00 price objective on Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada increased their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average target price of $253.59.

Get Our Latest Research Report on Carvana

Carvana Trading Down 7.9 %

NYSE:CVNA opened at $202.94 on Friday. The firm has a market capitalization of $43.26 billion, a P/E ratio of 129.26 and a beta of 3.61. The business has a 50 day simple moving average of $217.21 and a 200 day simple moving average of $219.98. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84.

Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Carvana Company Profile

(Free Report)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

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